I am hearing rumor that a deal with Spectrum is done! Anyone in the know willing to say so?
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@e2 3-5 billion in east debt is a big spread. Does it include the billion secured by the physical plant and guaranteed by the bills of Bronx and Brooklyn customers? Cant see spectrum buying our footprint just to act as a pass through for the bills from the biggest market.
Not sure who is going to end up with all of this. I’m pretty sure no one is going to want to assume the massive debt that is tide to it all. PD and his cronies have taken any and all value out of East and West.
@OP good god I hope so. Get Cablevision away from this friggin boat anchor and the international crime syndicate that owns it.
If it is true, this is what Google Gemini thinks would happen
The Most Likely Deal Structure:
Based on everything — here's what a Spectrum/Optimum deal probably looks like:
Pre-Packaged Chapter 11 with Charter Stalking Horse Bid:
1. Optimum files Pre-PAC Chapter 11 — Q4 2026
2. Charter is pre-arranged stalking horse bidder for East Cable + Lightpath
3. Creditors negotiate recovery from:
• Charter payment for East Cable (~$3-5B)
• West Region sale to PE (~$1-2B)
• Lightpath sale proceeds
• Optimum Mobile sale to T-Mobile (~$500M-1B)
4. Total creditor recovery: $5-8B against $25.5B debt — cents on the dollar but best available outcome
5. Charter integrates East Cable into Spectrum brand — NY/NJ/CT becomes Spectrum territory
6. Common equity (Neil Subin's stake) receives small residual payment if asset values exceed creditor claims — explaining his buying
Haven’t heard anything, but if there was a deal, Spectrum doesn’t want the debt, so it would just be the portion of business falling under CSC Investments II.